Credit Card Breach Could Affect Nearly 40 Million Target Customers

It seems like Black Friday shopping could put some people in the red. Target has confirmed that data from about 40 million credit and debit cards may have been stolen from customers who made in-store purchases from November 27 to December 15. "We take this matter very seriously and are working with law enforcement to bring those responsible to justice," said Gregg Steinhafel, Chairman, President and Chief Executive Officer of Target, in a statement.

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Security researcher Brian Krebs was the first to report the data breach, which involved "nearly all" of Target stores in the country. Target has since determined that the information taken includes the customer's full name, credit or debit card number and the card expiration date and security code. With this information, culprits could create counterfeit debit cards and withdraw cash from ATMs if they obtain PIN data from Target.

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Financial institutions have been alerted of the incident, and Target is working with an outside forensics firm to thoroughly investigate how exactly the breach occurred. It's currently believed, however, that an unknown software on the machines customers use to swipe their cards is responsible. According to reports, the Secret Service is conducting a separate investigation, but no additional details have been provided.

Customers who spot any fraudulent activity on their cards should call 866-852-8680. Representatives for MasterCard and Visa refused to comment, but an American Express spokesperson said the company was "aware" of the breach and have fraud controls in place. As of now, there is no evidence to suggest that the breach affected online shoppers.